Trimble Inc. (NASDAQ:TRMB) Stock Position Boosted by ING Groep NV

ING Groep NV grew its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 272.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,661 shares of the scientific and technical instruments company’s stock after buying an additional 23,900 shares during the quarter. ING Groep NV’s holdings in Trimble were worth $2,028,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. acquired a new stake in Trimble in the first quarter worth approximately $215,000. Empowered Funds LLC lifted its holdings in shares of Trimble by 15.1% in the first quarter. Empowered Funds LLC now owns 5,145 shares of the scientific and technical instruments company’s stock valued at $331,000 after buying an additional 675 shares during the period. M&G Plc bought a new position in Trimble during the first quarter valued at about $1,255,000. Beaumont Financial Advisors LLC acquired a new position in Trimble during the first quarter worth about $219,000. Finally, Trustmark National Bank Trust Department bought a new stake in Trimble in the first quarter worth about $579,000. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Stock Down 0.2 %

TRMB stock opened at $70.62 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07. The firm has a market capitalization of $17.25 billion, a P/E ratio of 11.81, a P/E/G ratio of 3.11 and a beta of 1.49. Trimble Inc. has a 52-week low of $42.56 and a 52-week high of $74.22. The company’s 50 day simple moving average is $62.12 and its 200-day simple moving average is $57.90.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TRMB shares. Piper Sandler raised their price objective on shares of Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a report on Sunday. Robert W. Baird upped their price target on Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Oppenheimer reissued an “outperform” rating and set a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lifted their target price on Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.40.

Trimble Profile

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company's Buildings and Infrastructure segment offers field and office software for project design and visualization; systems to guide and control construction equipment; software for 3D design and data sharing; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; program management solutions for construction owners; 3D conceptual design and modeling software; building information modeling software; enterprise resource planning, project management, and project collaboration solutions; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.